He noted that OSAGO provides protection for the driver's liability to other road users.
“OSAGO is insurance that covers liability to third parties. If the driver is found to be at fault in a traffic accident, the insurance company compensates the victims, including damage to their property, life, or health,” he explained.
However, the damage caused to the at-fault driver's own vehicle is not covered by this policy.
In contrast to OSAGO, CASCO, as a type of voluntary insurance, specifically protects the owner's vehicle.
“CASCO is a form of insurance that covers one's own property. If the vehicle is damaged as a result of a traffic accident, regardless of fault, or for any other reason, the owner is entitled to insurance compensation,” Turumbekov added.
He also emphasized that CASCO includes a broader range of risks, including damage from traffic accidents, actions of third parties, falling objects, and other situations, which, accordingly, affects the cost of the policy.
“OSAGO is a mandatory type of insurance, while CASCO is arranged on a voluntary basis and provides the vehicle owner with additional financial protection,” the director noted.
